Approving the Creation of the Policies and Programs Committee for the ECC Board

January 29, 2016ECC BOARD RESOLUTION NO. 16-01-02APPROVING THE CREATION OF THE POLICIES AND PROGRAMS COMMITTEE FOR THE ECC BOARDExcerpts from the Minutes of the First (1st) Regular Commission Meeting, Employees' Compensation Commission, Series of 2016, Convened at ECC Multi-Purpose Hall, 4th Floor, ECC Bldg. 355 Sen. Gil J. Puyat Avenue, Makati City, Friday, 29 January 2016 at 12:00 N.N.WHEREAS, on 28 November 2012, President Benigno S. Aquino III approved the Code of Corporate Governance for GOCC;WHEREAS, Section 16 of the said Code of Corporate Governance for GOCC provides that:Sec. 16. Board Committees. — The creation of Board Committees and other such oversight bodies enables the members of the Governing Board to efficiently manage their time and ensure the proper understanding and resolution of all issues affecting the GOCC and the proper handling of all other concerns, and allows the Board to effectively utilize the expertise of its Directors. WHEREAS, the same Code of Corporate Governance further states that:Sec. 16.1. The Governing Boards of the GOCCs shall therefore constitute the proper committees to assist them in...